Enbridge Sees Unusually High Options Volume (NYSE:ENB)

Enbridge Inc (NYSE:ENB) (TSE:ENB) was the target of some unusual options trading on Wednesday. Traders acquired 20,216 put options on the stock. This represents an increase of approximately 1,036% compared to the average volume of 1,779 put options.

Analysts Set New Price Targets

ENB has been the topic of several research analyst reports. Citigroup reiterated a “buy” rating on shares of Enbridge in a research note on Thursday, February 19th. TD Securities downgraded shares of Enbridge from a “buy” rating to a “hold” rating in a report on Tuesday, February 17th. Scotiabank reaffirmed an “outperform” rating on shares of Enbridge in a report on Tuesday, February 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Enbridge in a report on Tuesday, February 17th. Finally, Wall Street Zen downgraded shares of Enbridge from a “hold” rating to a “sell” rating in a report on Saturday, April 4th. Seven analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, Enbridge presently has an average rating of “Moderate Buy” and an average target price of $65.00.

Institutional Trading of Enbridge

Hedge funds have recently added to or reduced their stakes in the company. Tsfg LLC boosted its holdings in Enbridge by 329.6% during the third quarter. Tsfg LLC now owns 494 shares of the pipeline company’s stock worth $25,000 after buying an additional 379 shares in the last quarter. Triumph Capital Management purchased a new stake in Enbridge during the third quarter worth $26,000. Highline Wealth Partners LLC boosted its holdings in Enbridge by 73.1% during the third quarter. Highline Wealth Partners LLC now owns 559 shares of the pipeline company’s stock worth $28,000 after buying an additional 236 shares in the last quarter. Turning Point Benefit Group Inc. purchased a new stake in Enbridge during the third quarter worth $28,000. Finally, True Wealth Design LLC boosted its holdings in Enbridge by 588.2% during the third quarter. True Wealth Design LLC now owns 585 shares of the pipeline company’s stock worth $30,000 after buying an additional 500 shares in the last quarter. 54.60% of the stock is owned by hedge funds and other institutional investors.

Enbridge Stock Down 0.7%

Shares of ENB opened at $52.64 on Thursday. Enbridge has a 52 week low of $43.59 and a 52 week high of $55.44. The company has a quick ratio of 0.55, a current ratio of 0.63 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $114.94 billion, a price-to-earnings ratio of 22.89 and a beta of 0.63. The stock’s 50-day moving average price is $53.27 and its 200-day moving average price is $49.65.

Enbridge (NYSE:ENB) (TSE:ENB) last issued its earnings results on Friday, February 13th. The pipeline company reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.60 by $0.03. Enbridge had a return on equity of 11.19% and a net margin of 11.30%.The firm had revenue of $17.18 billion for the quarter, compared to the consensus estimate of $9.10 billion. During the same quarter in the prior year, the business earned $0.75 earnings per share. On average, sell-side analysts predict that Enbridge will post 2.14 EPS for the current year.

About Enbridge

Enbridge Inc is a Calgary, Alberta–based energy infrastructure company that develops, owns and operates a diversified portfolio of energy transportation, distribution and generation assets. Its core activities include the operation of crude oil and liquids pipelines, natural gas transmission and distribution systems, and energy storage facilities. In addition to midstream transportation and storage, Enbridge has expanded into renewable power generation and energy transition projects, including wind, solar and utility-scale generation assets.

The company serves customers primarily in Canada and the United States and has interests in other international energy projects.